LAGOS COURT JAILS NOGASA CHAIR, FATUYI PHILLIPS 21 YEARS FOR N43. 5M FRAUD. (PHOTO). #PRESS RELEASE

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 Lagos Court Jails NOGASA Chair, Fatuyi Phillips 21 Years  for N43.5m Fraud    Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Monday, November 18, 2024, convicted and sentenced Fatuyi Yemi Philips, Chairman, Natural Oil and Gas Suppliers Association of Nigeria, NOGASA, to 21 years imprisonment for N43.5m fraud.   The Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on April 5, 2022, arraigned Philips alongside his firm, Oceanview Oil and Gas Limited, on a two-count charge bordering on obtaining money by false pretence to the tune of N43, 502,000.00   Count one reads: "Fatuyi Yemi Philips and Oceanview Oil and Gas Nigeria Limited, on or about the 28th day of September, 2016 at Lagos, within the jurisdiction of this Honourable Court, with intent to defraud, obtained the aggregate sum of N43, 502,000.00 from Elochukwu Okoye and Elebana Unique Ventures Nigeria Limited on behalf of WAPCIL Nigeria Limited under the false rep
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NPDC MD,MATASHI TESTIFIES AGAINST JIDE OMOKORE.{PHOTO}.

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Image result for omokore                             The trial of the embattled Chairman of Atlantic Energy Brass Development Limited and Atlantic Energy Drilling Concept Limited,Jide Omokore,continued yesterday March 1,2017 before Justice Nnamdi Dimgba of the Federal High Court,Abuja with the Economic and Financial Crimes Commission,EFCC presenting its second prosecution witness,PW2,Yusufu Matashi,Managing Director,Nigerian Petroleum Development Company Limited,NPDC.While being led in evidence by the prosection counsel,Rotimi Jacobs,SAN,Yusufu said the company allocated 7,553,733 barrels of crude oil to Atlantic under a Strategic Alliance Agreement {SAA}.He admitted that while the total value of the transaction as at 2014 was $823,750,159,Atlantic Energy Drilling Concept Limited could not meet up with its cash call for operations and training which made NPDC,a subsidiary of Nigerian National Petroleum Corporation,NNPC,to use funds in its account to clear outstanding payments.
Justice Dimgba thereafter adjourned the matter to March 2,2017 for cross-examination of the witness.Omokore,who was on November 21,2016,re-arraigned alongside Victor Briggs,Abiye Membere,David Mbanefo,Atlantic Energy Brass Development Limited and Atlantic Energy Drilling Concepts Limited is standing trial on a 9-count amended charge of criminal diversion of about $1.6 bn alleged to be proceeds of petroleum products belonging to the federal government.
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